Glanville Distribution markets CDs of the performing artist Harrilyn Clooney. At the beginning of March, Glanville had in beginning inventory 1,500 Clooney CDs with a unit cost of $7. During March Glanville made the following purchases of Clooney CDs.

March 5 3,000 @ $8 March 21 4,000 @ $10
March 13 5,500 @ $9 March 26 2,000 @ $11

During March 12,500 units were sold. Glanville uses a periodic inventory system.

To determine the cost of goods sold (COGS) and the ending inventory value, we need to calculate the total cost of the CDs purchased during March.

Step 1: Calculate the total cost of CDs purchased on each date
- March 5: 3,000 CDs @ $8 = $24,000
- March 13: 5,500 CDs @ $9 = $49,500
- March 21: 4,000 CDs @ $10 = $40,000
- March 26: 2,000 CDs @ $11 = $22,000

Step 2: Calculate the total cost of CDs purchased during March
Total cost = $24,000 + $49,500 + $40,000 + $22,000 = $135,500

Step 3: Calculate the cost of goods available for sale
Beginning inventory (1,500 CDs) * Unit cost ($7) = $10,500
Cost of goods available for sale = $10,500 + $135,500 = $146,000

Step 4: Calculate the ending inventory
Ending inventory = Cost of goods available for sale - COGS
Since we know that 12,500 units were sold during March, we subtract that number from the total quantity available for sale (15,000 CDs).
Ending inventory = (15,000 CDs - 12,500 CDs) * $7 (unit cost) = $17,500

Step 5: Calculate the cost of goods sold
COGS = Cost of goods available for sale - Ending inventory
COGS = $146,000 - $17,500 = $128,500

Therefore, the cost of goods sold during March was $128,500, and the ending inventory value at the end of March was $17,500.